at current levels i think the energy trusts are a great buy. when i mentioned them last week they were yielding 25-30%, but even though they have done well for the past few days, the yields are still very high. here are a few with prices in us dollars:

pgh 11.21 20.10%

pvx 6.37 20.40%

hte 9.80 33.00%

pwe 17.86 17.60%

these stocks typically don't provide a lot of capital appreciation, but if you need or want current income, the energy trusts will serve you well. i think the dividends are safe even with $70/bbl oil, but the only caveat is that in a couple of years their tax levels will increase a bit, on the anniversary of the halloween massacre. some of them may convert to corporations, or be bought out. or the tax laws may be amended before anything happens.

if you agree with king hubbard's thesis on peak oil, these stocks are a bargain. by next year i think $70 oil will be just a fond memory, and maybe even sooner. i don't think these stocks can go much lower from here, and even if they do, they will pay large cash dividends while you wait for them to come back up.